• Explain that as a result of scarcity, choices have to be made. • Explain that when an economic choice is made, an alternative is always foregone. • Explain that a production possibilities curve (production possibilities frontier) model may be used to show the concepts of scarcity, choice, opportunity cost and a situation of unemployed resources and inefficiency. Link to presentation You will be given a number of worksheets to complete. Some extra reading here:
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